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Wednesday, March 5, 2014

Google Capital Injects $50M In Auction.com

Google Capital, the growth fund which is owned by Mountain View-based Google, said it has made a $50M investment in online commercial real estate auction site Auction.com. According to Auction.com, the deal values the company at $1.2 billion. Google Capital gains both a board seat and observer position with the investment. Google Capital's David Lawee said that Auction.com has quietly build one of the largest marketplaces on the web. Auction.com said that over $7 billion in commercial and residential real estate was traded through its marketplace in 2013. More information »